Notice is hereby given that a hearing will be held at 10:00 a.m. Central Time, on Friday, October 7, 2022, in the offices of the Alabama Department of Insurance, 201 Monroe Street, Fifth Floor Conference Room, RSA Tower, Montgomery, Alabama, as follows:
Adoption of revisions to Section 7 of Insurance Regulation No. 94 [Rule 482-1-094-.07] which provides the filing requirements relating to surplus notes. The revisions remove an outdated address and make other non-substantive formatting changes. The proposed effective date of the revisions is October 17, 2022. (3pages)
Adoption of proposed new Section 9 of Insurance Regulation No. 161 [new Rule 482-1-161-.09], which is added to adopt by reference the 2023 version of the Valuation Manual developed by the National Association of Insurance Commissioners (NAIC), to include the revisions made by the NAIC in 2022, as authorized in Section 27-36A-15, Code of Alabama1975. The new rule will become effective January 1, 2023. (1 page)
Adoption of an amendment to Section 9 of Insurance Regulation No. 151 [Rule 482-1-151-.09] which sets forth the registration requirements for emergency independent adjusters, including the registration fee. The fee was initially set in 2012 in Ala. Code § 27-9A-5. The amendment adjusts the fee according to changes in the Consumer Price Index over the last ten years as permitted by Ala. Code §41-1-11. The proposed effective date of the amended rule is January 1, 2023. (1 page)
Adoption of proposed new section 4 of Insurance Regulation No. 160 [new Rule 482-1-160-.04] which sets forth the rules which sets forth the rules necessary to carry out the provisions of Ala. Code §41-1-11 permitting the increase of certain fees by the percentage increase in the Consumer Price Index. The fee the Insurance Fraud Unit assessment was initially set in 2012 in Ala. Code §27-12A-41. The proposed new rule adjusts the fee according to changes in the Consumer Price Index over the last ten years as permitted by Ala. Code § 41-1-11. The proposed effective date of the new rule is January 1, 2023. (4 pages)
Any person wishing to submit testimony at said hearing is requested to submit said testimony in writing by October 6, 2022, to the Alabama Department of Insurance, Attention: Legal Division, Post Office Box 303351, Montgomery, Alabama 36130-3351. Any written submission of testimony prior to the hearing will not preclude anyone from making an oral or written presentation at the hearing.
A copy of the regulations may be obtained by written request to the Alabama Department of Insurance, Post Office Box 303351, Montgomery, Alabama 36130-3351. The request must include payment of $1.00 per page and a self-addressed, postage paid return envelope. A scanned copy may be obtained at no charge via electronic mail. You may send an e-mail request toRaymond.Taylor@insurance.alabama.gov.
Anyone desiring to participate through videoconferencing must submit a written request via electronic mail to Raymond.Taylor@insurance.alabama.gov not later than 3:00 PM CT on October 6,2022. You must include your name, address, and business affiliation, and must indicate whether you desire to speak for or against any of the regulations subject to the hearing.